Money Management Executive Latest News

The newest batch of index-based products aren't your father's plain-vanilla index fund that passively tracks a well-known equity index.

Lawrence Lasser, the former chief executive officer of Putnam Investments, agreed to pay $75,000 to settle charges by the Securities and Exchange Commission he authorized the company to make shelf-space payments to 80 brokerage firms from 2000 to 2003 without revealing this to the board of directors. Twenty of these brokers were paid in cash, the remaining via directed brokerage agreements.

As promised, the Securities and Exchange Commission has issued an analysis of the effects of independent directors on mutual funds, but its two reports undermine its proposed rule that would require 75% of a fund's board, including the chairman, to be independent.

Illinois has selected OppenheimerFunds as program manager for its 529 college savings plan, the Illinois Bright Start College Savings Program. As such, OppenheimerFunds will act as investment manager, administrator and distributor of the $2 billion program.

Former Labor Official Combs Joins Vanguard

NEW YORK-The market isn't likely to deliver a banner year in 2007 as it did last year, but investors can take advantage of certain sectors that are poised for a turnaround.

NEW YORK-As the economy slows, as expected in 2007, Eaton Vance wants investors to think big.

In spite of the recent blowups of a number of well-known hedge funds, these investment vehicles will continue to grow and be a popular investment choice this year, according to Deutsche Bank’s alternative investment survey.

Sun Life Financial has reached an agreement to acquire the U.S. benefits business of Genworth Financial for $650 million. It provides group life, disability, medical stop-loss and dental insurance to 2.9 million people at 32,000 organizations.

Legg Mason Value guru Bill Miller may have missed his mark in 2006, but he proved his commitment to style.